Superyacht supplies and spares

A boom in the global demand for superyachts has brought business and employment opportunities across the UK, as well as an expanding British market for the most indulgent vessels ever to set sail.

New figures show that more than 1,000 of the biggest 2,300 luxury craft in the world fly the red ensign, although 90% are owned by non-British nationals. The attendant industry in superyacht supplies, spares and provisioning is expanding too.

Stretching to more than 30 metres, the prices of these craft rarely start below £10m. Italian marble, jacuzzis, rotating beds and retractable windows can come as standard, with annual maintenance bills exceeding £250m. Superyacht crews even have their own website: yachtiesreunited.

Among the growing nautical class are the City entrepreneur, Paul Davidson, the owner of Harrods, Mohamed Al Fayed, and BHS's retail chief, Philip Green, as well as celebrities such as the racing driver David Coulthard.

But it is not just the super-rich who are able to indulge their passion for luxury craft. More than 180,000 people visit the Schroders London boat in Docklands where the most expensive vessel will cost a mere £4.9m.

The superyacht industry is reported to have grown by 90% in the last 10 years, the only thing holding back demand being the lack of suitable harbours or trained crew. This week, the officers' union Numast is highlighting the job opportunities available in the sector to its members, hit by the decline in the traditional merchant navy.

It is perhaps ironic that the boom in luxury yachts is being seen by government as an opportunity to create jobs for seafarers and shipyard workers hit by a decline in the traditional merchant navy.

A recent government initiative, Superyacht UK, spearheaded by Jacqui Smith, a trade and industry minister, aims to bring boatbuilders under one marketing umbrella and create jobs building and crewing superyachts. Ms Smith was even in Monaco last September trying to woo the super-rich to build their craft in Britain.

Southampton's Vosper Thorneycroft yard has just launched one of the world's largest single mast vessels: the 76-metre Mirabella V, priced at £30m.

The yacht, complete with sauna, gym and 600-bottle wine cellar, has been constructed for American-born Joe Vittoria, the former head of Avis Car Rentals, but Britons are also queuing up for new boats.

The world's leading luxury yachtbuilders Palmer Johnson in Fort Lauderdale, Florida, have just delivered a 37-metre, £12.5m yacht to a London businessman. They have six more supercraft on the books with an increasing number of potential clients from the UK and Europe.

Paul Cave, of the UK luxury yacht broker and consultants Team Marine, agrees that the British share of the annual £4.5bn market for supercraft is extremely healthy.

The firm is currently helping to sell a £30.5m, 60-metre vessel. "That's a pleasure palace," said Mr Cave.

Captain Michael Howarth, a Numast member and consultant to the superyacht sector, says the world of the luxury yachts can be lucrative for Britain's seamen. Masters can earn up to £9,000 a month, while a chief engineer can expect £5,400 which is tax-free if they stay out of Britain long enough.

But Captain Howarth cautions that conditions can be tricky. The union's magazine describes the job of yacht captain as "a cross between a housemaster in a boarding school and dad in an unruly household where the crew play the part of children".

And there is little job security. "Boats are sold at the drop of a hat, owners change their minds on a whim and the first a captain or crew may learn about any of this is as the new owner's freshly appointed crew climb the gangway," said Mr Howarth.

One specialist area in which British supply firms are capitalising is security. Since September 11, yacht owners have been demanding CCTV cameras, thermal imaging and worldwide tracking technology.

But more basic safety seems an issue. The UK's maritime and coastguard agency recently did an inspection of luxury boats in the Mediterranean and found a host of problems, such as incorrect crew competency certificates and fire pumps not working properly.

Howard Pridding, executive director of the British Marine Federation said the luxury yacht sector is increasingly important to the UK economy. "The UK marine industry is a success story, and the superyacht and luxury end of the market is currently performing extremely well," he said. "Initiatives like Superyacht UK and the Schroders London boat show all contribute to promoting the high quality and innovative design of British companies to a worldwide audience."

At the very top end of the market, meanwhile, the world's biggest existing super-yacht - at 120 metres - is the Octopus, complete with music studio and cinema, commissioned by the Microsoft co-founder Paul Allen, and said to be worth well into nine digits. An even bigger cruiser for another US executive is believed to be under construction.

"There are yachts being built for hundreds of millions of dollars and I think we have not hit the ceiling yet," said Mike Kelsey. "Although, I will say there comes a point when a yacht is no longer a yacht; it is most certainly a ship." 

www.globalservicesltd.co.uk

Super yacht spares and Equipment...an expanding industry www.globalservicesltd.co.uk  have extensive experience and expertise in sourcing and supplying spares, parts and equipment for the modern super yacht.

Whether its engine room spares or replacement parts, equipment for the deck, catering kit for the galley or toys for the owner, they have supplier contracts in place to ensure we meet your every needs.

To follow is a brief summary of some of the items sourced for clients.

Engineering

Hardware

Electrical

Engines

Exhaust Systems

Sewage

Fresh Water Systems

Pumps

Filters

Instrumentation

Oil Pollution Control

Separators and Purifiers

Light Bulbs

Valves

Clothing

Daywear

Foul Weather Gear

Footwear

Catering

Electrical Items

Kitchenware

Laundry

Cleaning

Waste Control

Deck

Chemicals

Washdown

Electronic Kit

Mooring

Watersports / Toys

Hardware

Safety Equipment

Tools

Power Tools

Hand Tools

To find out more about superyacht Spares and Equipment service email spares@globalservicesltd.co.uk or call the Spares / Equipment team on +44 (0) 1392 467922.